The
global Intumescent
Coatings Market size
is expected to reach USD 1.31 billion by 2025, according to a new report by
Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% over the
forecast period. Extensive usage of passive fire protection for steel
structures used in offshore and onshore extraction and purification and
refining in the oil & gas industry is the key factor boosting the market
growth. In addition, rising shale gas exploration coupled with expanding oil
& gas industry in Asia Pacific is expected to propel demand over the
forecast period. The industry is characterized by the presence of a large
number of raw material suppliers leading to an increase in the switching
ability of the manufacturers and high bargaining power.
However,
volatile prices of the raw materials, such as epoxy resins is expected to
restrain the growth to some extent. Moreover, several regulations limiting the
presence of Volatile Organic Compounds (VOCs) in the formulation will also
hinder market growth. On the other hand, development of advanced products that
are compliant with the regulations set by the European Commission is expected
to drive the demand over the next nine years. The market in Asia Pacific
witnessed a significant expansion owing to increased oil & gas exploration
activities, particularly in the South China Sea. Furthermore, infrastructure
development in emerging economies including India, Indonesia, and Vietnam is
likely to contribute to the market development over the forecast period.
Request
a sample copy or view summary of this report@
https://www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry
Further
key findings from the study suggest:
- Water-based coatings is expected to be
the fastest-growing technology segment of the global intumescent coatings
market from 2019 to 2025
- Oil & gas end-use segment held the
largest share of the market in 2018 and is expected to continue its
dominance over the forecast period
- Asia Pacific was the largest market in
2018 and is projected to expand further at the highest CAGR during the
forecast years
- Cellulosic is projected to be the
largest, as well as the fastest-growing, application segment over the next
few years
About
Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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